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Financings

Anaptysbio Inc., of San Diego, said it intends to offer $200 million of its common stock in an underwritten public offering and grant the underwriters a 30-day option to purchase up to an additional $30 million of its common stock at the public offering price. The company will use the net proceeds to fund research and development activities for its clinical development programs, including its ongoing and planned clinical trials for etokimab, which demonstrated promising data earlier this week in improving lung function for adults with severe eosinophilic asthma, and ANB-019, an antibody that inhibits the function of the interleukin-36-receptor, which is being initially developed as a potential first-in-class therapy for patients suffering from generalized pustular psoriasis and palmoplantar pustulosis. (See BioWorld, Sept. 25, 2018.)

Opiant Pharmaceuticals Inc., of Santa Monica, Calif., said it priced an underwritten public offering of 705,882 shares at $17 each with gross proceeds expected to be approximately $12 million. In addition, the company granted the underwriter a 30-day option to purchase up to 105,882 additional shares. The net proceeds from the offering will be used primarily to advance its alcohol use disorder and bulimia nervosa clinical programs, as well as for general corporate purposes.

Orphan Star Therapeutics LLC, of New York, said it secured a commitment of $20 million from an undisclosed pharmaceutical partner. The funds will allow the company to advance its early stage pipeline of product candidates for several rare diseases, including Canavan disease, a rare genetic neurodegenerative disease that is usually fatal within the first decade of life.

Tolremo Therapeutics AG, of Zurich, completed an oversubscribed series A financing round of CHF9 million (US$9.3 million). The Swiss venture capital firm Biomedpartners AG led the round and was joined by Swiss venture capital firms Redalpine and Altos Venture, as well as Tolremo's existing shareholders, including the Swiss bank Zurcher Kantonalbank and several biotech investors. The company, a spin-out from the Swiss Federal Institute of Technology Zurich, said it would use the funds to advance two major drug development programs to prevent drug resistance in cancer therapies. (See BioWorld, Sept. 28, 2017.)

Viacyte Inc., of San Diego, said W. L. Gore & Associates Inc., of Newark, Del., a global materials science company, has made an investment of $10 million in the form of a convertible promissory note. In March last year, the companies announced a collaboration to combine Gore's material science and implantable medical device expertise and Viacyte's preclinical and clinical experience with human cell replacement therapies to develop cell encapsulation technologies. The combined effort is being applied to the PEC-Encap (also known as VC-01) product candidate that is being developed as a functional cure for patients with type 1 diabetes.